Beauty devices are used to treat skin-related problems such as acne and wrinkles. Moreover, they are also used to eliminate the scars caused due to injury. They are also used to treat hair related problems such as hair fall, greying hair, etc. These devices are a result of advancements in skincare devices technology.
The global Beauty devices market was accounted for US$ 45,573.5 Mn in terms of value by the end of 2019
Increasing aging population is a prime factor fueling the market growth of the beauty devices. Aging is associated with the loss of the fibrous tissue. The skin layer started reducing vascular and glandular networks which leads to wrinkles, pigmentation and sagging of the skin. According to the United Nations, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Thus, the rise in the aging population is projected to foster the market growth of beauty devices.
Increasing awareness regarding personal hygiene is propelling the market growth of the beauty device. The rise in the urban population coupled with the increasing penetration of personal care products across emerging nations is again expected to foster market growth. Also, rapid adoption of such products across consumers due to effectiveness and benefits offered by these products are further anticipated to augment the market growth of the beauty devices.
Figure 1. Global Beauty Devices Market, Revenue Share (%), By Region, 2019
North America region dominated the global beauty devices market in 2019, accounting for 51.8% share in terms of value, followed by Asia Pacific and Europe, respectively
Side-effects associated with beauty devices such as excessive swelling, superficial burn, and blistering is expected to restrict the adoption of such devices. These factors are expected to hinder the market growth of the beauty device over the forecast period.
Lack of awareness regarding the benefits of beauty devices across developing countries of rural areas is expected to inhibit the market growth over the forecast period.
|Base Year:||2019||Market Size in 2019:||US$ 45,573.5 Mn|
|Historical Data for:||2017 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||18.7%||2027 Value Projection:||US$ 179,729.8 Mn|
L’Oreal Group, Nu Skin Enterprise, Inc., Panasonic Corporation, Home Skinovations, Ltd., PhotoMedex, Inc., Carol Cole Company, Procter & Gamble Company, Koninklijke Philips N.V., TRIA Beauty, Inc., AmorePacific Group
|Restraints & Challenges:||
The expansion of salon and beauty care centers around the globe is projected to bring new market opportunities in the near future. Growing pollution is again increasing the prevalence of various skin diseases which is also creating demand for beauty devices. Moreover, growing awareness regarding scars treatment caused due to injury is further anticipated to foster the market growth of the beauty device over the forecast period.
Continuous product innovation is expected to create lucrative growth opportunities for the market in the near future. For instance, in February 2019, Alma Lasers launches a new hair removal device, the Soprano Titanium. The device features the company’s new Quattro 3D applicator handpiece, which has a spot size of 4cm and delivers three laser wavelengths: 755 nm, 810 nm, and 1064 nm to treat all skin types. Moreover, it also features a dual connector that allows two different applicators to be connected to the platform at all times.
Figure 2. Global Beauty Devices Market – Opportunity Analysis
Market Trends/Key Takeaways
Increasing preferences for at-home beauty devices that are easy to use for acne and hair removal is one of the growing trends. At-home beauty devices are portable and easy to use. They are gaining huge demand due to increasing availability of home solutions. These devices are witnessing tremendous demand on the account of a rise in the young population and middle age population around the globe.
Changing lifestyle coupled with the growing disposable income is projected to bolster the market growth of the beauty devices. Improving living of standard and constantly changing fashion trends are two other major factors propelling the market growth of the beauty devices. Also, an increasing number of working women is further creating demand for such devices thereby fueling the market growth of the beauty devices.
Figure 3. Global Beauty Devices Market, Revenue Share (%), By Type in 2019
The hair removal device segment dominated the global beauty devices market in 2019, accounting for 20% share in terms of value, followed by cleansing and acne device segment respectively
Global Beauty Device Market - Impact of Coronavirus (Covid-19) Pandemic
The novel Coronavirus (COVID-19) has impacted almost all the industries globally including personal care products market. There is an increased demand for beauty and personal care products during the pandemic period owing to rising trends of home use and portable beauty devices.
Few Recent Developments
In January 2020, L’Oréal introduced Perso, a smart device that makes beauty personal. The smart skincare system is capable of providing personalized skincare solutions via a four-step process.
The Global Beauty Device Market is accounted for US$ 45,573.5 Mn in terms of value by the end of 2019. Beauty devices are instruments that are used to treat skin condition such as acne, pigmentation, hair removal among others.
Rising occurrence of skin related disease globally drives the demand for the beauty devices across the globe. Increasing elderly population is one of the key factor contributing to the growth of the market. Moreover, rising trends for portable and hand held beauty devices is also expected to increase the demand for the market over the forecast period. In addition, rising number of beauty salons and spa across the globe further increases the demand for such products.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective